It's official, folks. Wall Street is the master of mixed
signals. Just yesterday, the Dow Jones Industrial Average (DJINDICES: ^DJI ) sold off in a hurry, tumbling 152 points on
the heels of a strong GDP report. As absurd as that sounds, the slump was
caused by the legitimate concern that the Federal Reserve would be more likely
to taper its QE program after seeing proof of a solid recovery. Today, the
stock market saw further proof of a solid recovery, as the U.S. economy added
204,000 jobs in October, blowing out the 125,000 figure some analysts expected.
This time, the Dow responded to the good news by roaring 167 points, or 1.1%,
higher, to end at 15,761.
Disney (NYSE: DIS )
stock also experienced a reversal of fortune, jumping 2.1% after beating
earnings and revenue estimates. Yesterday, the entertainment giant was the
Dow's most pronounced decliner. Read more.
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